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Dow edges higher as tariff schedule shifts overnight

A temporary 10% worldwide levy expired at 12:01 a.m. Friday and was replaced by 10% to 12.5% duties on 60 trading partners covering 99% of US imports, under Section 301.

Reported · Written up by our desk · Major Pairs

The Dow Jones Industrial Average was trading near 52,000 on Friday, up around 325 points, as markets digested a change in the US tariff regime. FXStreet said the move was linked to a wire report suggesting Pakistan is exploring a return to stalled US-Iran talks at China's urging, with sources warning that obstacles to American engagement remain high.

FXStreet also tied the broader price action to the tariff mechanics, noting that the temporary 10% worldwide levy expired at 12:01 a.m. Friday and was replaced by duties ranging from 10% to 12.5% on 60 trading partners accounting for 99% of American imports. The duties were imposed under Section 301 of the Trade Act of 1974 over allegations that partners have inadequately enforced bans on goods made with forced labor.

According to FXStreet, the lower rate applies to Canada, the European Union, India and the United Kingdom, while China, Japan and South Korea face the higher rate. The outlet added that February's Supreme Court defeat struck down emergency-powers tariffs and created the stopgap that lapsed overnight, with the replacement resting on a longer-running statute.

FXStreet reported that Apple helped drive the Dow gain with a 3% move, reflecting the index's price-weighted construction. It also noted that S&P 500 sectors were broadly higher, with real estate and communication services leading, while the semiconductor complex fell, including drops for Intel, Micron Technology, Broadcom, and Advanced Micro Devices.

Latest closeS&P 500 7,408.30 ▼1.2%|Dow Jones 51,711.65 ▼1.0%

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